PANews reported on February 11 that according to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) and Binance have jointly filed a motion with the court to suspend the SEC's lawsuit against Binance for 60 days. This is the first request for a stay of cryptocurrency litigation since Mark Uyeda took over as acting chairman of the SEC.

The document shows that the new crypto regulatory task force established by the SEC may affect the potential resolution of the case, so the SEC proposed a brief suspension of the lawsuit, and Binance agreed to this decision and believed that it was in line with the principle of judicial economy. If the court approves, the case will be re-evaluated after 60 days.

The market expects that other crypto companies that have legal disputes with the SEC, such as Ripple, Coinbase, and Kraken, may also seek similar litigation suspension applications.